Petrol, diesel prices hit record highs after breaching Rs 100-mark in all metros; check rates in top cities

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Petrol and diesel prices edged higher for 2nd straight day on Thursday across the country. The auto fuel prices hit record high levels on July 8, with petrol and diesel becoming costly by 35 paise and 9 paise respectively.

After today’s revision, a litre of petrol in Delhi is being retailed at Rs 100.56 and diesel at Rs 89.62, according to Indian Oil Corporation, the country’s largest fuel retailer.

In Mumbai, a litre of petrol and diesel will cost Rs 106.59 and Rs 97.18 respectively. Currently, fuel prices are highest in Mumbai among all metro cities.

Among the metros, Kolkata has seen the sharpest hike, with petrol now 39 paise more at Rs 100.62 and diesel now 15 paise more at Rs 92.65 per litre.

After today’s rise, it added up to Rs 9.87 for petrol and Rs 9.80 for diesel. This is the 37th  price hike since May 4 when fuel rates started increasing after the elections. This is also, the 5th hike of the month. The prices were hiked 16 times in June.

Here is the list of fuel prices in top-10 cities

Fuel price above Rs 100 mark

Petrol prices have already crossed the Rs 100-mark in eleven states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Jammu & Kashmir, Odisha, Manipur, Ladakh and some cities of Bihar and Punjab. Sri Ganganagar district of Rajasthan has the costliest petrol and diesel in the country. Indore, Bhopal, Gwalior, Jaisalmer, Jaipur, Banswara, Ratnagiri, Parbhani and Aurangabad are also few cities selling auto fuel above Rs 100 mark.

Prices differ due to differences in taxes

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges.  Central and state taxes make up for 60% of the retail selling price of petrol and over 54% of diesel. The union government levies Rs 32.90 per litre of excise duty on petrol. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.

CNG, PNG price hike

The retail price for Compressed Natural Gas (CNG) has been revised from Rs 43.40 per kg to Rs 44.30 per kg. The revised price will be effective from July 8, 2021. Apart from the alteration in the price of CNG, the Piped Natural Gas (PNG) domestic price will be Rs 29.66 per Standard Cubic Meter (SCM).

Compressed natural gas (CNG) retail price has been revised in Delhi to Rs 44.30/kg from Rs 43.40/kg with effect from 8th July. On the other hand, Piped natural gas (PNG) domestic price is going to be Rs 29.66 per SCM.

CNG price in Noida, Greater Noida and Ghaziabad, has been revised from Rs 49.08 per kg to Rs 49.98 per kg with effect from today, July 8, 2021.